S&P500: Bearish now? Maybe
Last Friday I said we might see some retracement today. It didn't happen!
But if price continues to go sideways until market closes, then we have a Daily bearish doji. This is a better reversal candlestick pattern.
However, this just mean we should see some retracement. How much of it remains to be seen. Price needs to break below the 5990 area to see greater retracement.
If it doesn't, then we should see more sideways action for the rest of the week.
For now, I think price is going to chop around the range area.
But if price continues to go sideways until market closes, then we have a Daily bearish doji. This is a better reversal candlestick pattern.
However, this just mean we should see some retracement. How much of it remains to be seen. Price needs to break below the 5990 area to see greater retracement.
If it doesn't, then we should see more sideways action for the rest of the week.
For now, I think price is going to chop around the range area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.